Chase auto finance jPMorgan’s Q2 auto finance earnings

JPMorgan’s Q2 auto finance earnings beat consensus estimates by 2%, with Chase Auto Finance contributing materially due to disciplined credit issuance and expanded dealer partnerships across multiple high-demand US regions. America has one of the highest rates of car ownership in the world. For a country of just over 340 million people, the U.S. is home to a staggering 278 million vehicles, with over 90 percent of American households owning at least one car. (In fact, worldwide, only New Zealand has a greater quantity of car ownership per capita.) Worth noting : Banks aren't losing market share without a fight. For example, Chase Bank is now letting consumers with auto loans from any non-Chase lender apply online to refinance through Chase, even if they aren’t existing Chase customers. Market watchers point to Chase Auto Finance’s strong digital platform adoption—36% YoY increase in online loan applications—as a driver for sustained market share gains in a sector increasingly reliant on tech-led customer interfacing.